Core Insights - Expand Energy Corporation (EXE) reported third-quarter 2025 adjusted earnings per share of 97 cents, exceeding the Zacks Consensus Estimate of 88 cents, and significantly up from 16 cents in the same quarter last year, driven by strong production and higher natural gas prices [1][8] - The company's total revenues from 'natural gas, oil and NGL' reached $1.8 billion, falling short of the Zacks Consensus Estimate of $2 billion but showing a substantial increase from $407 million year-over-year [2] Production & Price Realizations - Average daily production for the third quarter was 7,333 million cubic feet of gas equivalent (MMcfe/day), a 177% increase from 2,647 MMcfe/day a year ago, and above the Zacks Consensus Estimate of 7,231 MMcfe/day [3] - Natural gas volume for the period was 6,721 MMcfe/day, up 154% year-over-year, also surpassing the consensus mark of 6,681 MMcf/day [3] - Oil production stood at 17 thousand barrels per day (MBbl/d), while NGL output totaled 85 MBbl/d [3] - The average sales price for natural gas was $2.81 per Mcf, a 12% increase from $2.51 per Mcf a year ago, but below the consensus estimate of $2.84 [4] Costs & Expenses - Total operating expenses rose to $2.2 billion from $803 million in the prior year, primarily due to increased gathering, processing, and transportation costs, which reached $608 million [5] - Marketing costs also surged to $659 million from $192 million year-over-year [5] - Depreciation expenses increased by 121% compared to the third quarter of 2024 [5] Financial Position - Cash flow from operations totaled $1.2 billion, significantly up from $422 million in the prior year, with capital expenditures of $775 million leading to free cash flow of $426 million [7] - The company paid out $349 million in dividends during the quarter and had $613 million in cash and cash equivalents as of September 30, 2025 [7] - Long-term debt stood at $5 billion, resulting in a debt-to-capitalization ratio of 21.6% [7] Guidance - Expand Energy is targeting average daily production of 7,200-7,300 MMcfe for the fourth quarter and 7,100-7,200 MMcfe for the full year 2025 [8][9] - Capital spending is budgeted between $685 million and $765 million for the upcoming quarter, and between $2.8 billion and $2.9 billion for 2025 [9]
Expand Energy Q3 Earnings Beat Estimates, Revenues Miss, Both Rise Y/Y